How important is, for any manager, the financial information in decision making? What is the budgets’ role and budgeting activity? What are the cash flow or the profit and loss account (P&L)? What is cost representing and how important are all these in a decision making process? How do we interpret the financial analysis indicators?

Even though economic-financial reports furnished by financial departments are considered to be important tools for decision making and company’s management, for a non-financial is hard to efficiently use them under the circumstance that basis principles and used terms are almost unknown. It is also possible for managers to think that financial information is just the ompany’s obligation when it comes to relating with state’s fiscal institutions. But it's not like that. read more»